Ambac Pursuing $2.5 Billion Claim Against Bank of America Corp

Bank of America Corp (NYSE:BAC) noting Ambac Financial Group, Inc. (NASDAQ:AMBC)’s damages claim in excess of $2.5 billion in a recent filing could be a positive for Ambac, notes BTIG Research.

Ambac’s emergence from bankruptcy

As reported earlier, Ambac Financial Group, Inc. (NASDAQ:AMBC) emerged from bankruptcy with court permission in March 2012 and is seeking to recover what it sees as unfair losses from its bond insurance market during the financial crisis. It was those dealings that made the insurer go bankrupt in the first place and they now seek recompense.

In 2012, Ambac Financial Group, Inc. (NASDAQ:AMBC)...